Can Monetizing Trade Lower Welfare? An Example

In decentralized trade individuals self-insure against consumption risk via costly diversification of skills. Although money acts as a consumption insurance, it may lead to a moral hazard problem. If the problem is severe, monetizing trade can lower welfare relative to barter

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Year of publication:	2014
Authors:	Camera, Gabriele
Other Persons:	Reed III, Robert R. (contributor) ; Waller, Christopher J. (contributor)
Publisher:	[2014]: [S.l.] : SSRN
Subject:	Wohlfahrtsanalyse \| Welfare analysis \| Theorie \| Theory \| Geldwirtschaft \| Monetary economy \| Arbeitsteilung \| Division of labour \| Glücksspiel \| Gambling

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Extent:	1 Online-Ressource (13 p)
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Economics Letters, Vol. 81, No. 2, 2003 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments May 1, 2003 erstellt
Classification:	E4 - Money and Interest Rates ; E5 - Monetary Policy, Central Banking and the Supply of Money and Credit
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013039920